INDOCHINA 22
NagaWorld ramps quietly, expansion projects still on the cards NagaWorld, Nagacorp’s integrated resort in Phnom Penh reopened its doors after more than a six month shutdown on September 15 without its usual fanfare.
I
t appears that the country’s government, which can be commended for its aggressive vaccination rollout, still needs to keep an eye out for sensitivities in relation to reopening a large-scale facility in its capital city. In an interview with Asia Gaming Brief in midSeptember, McNally confirmed that while the government had given them the greenlight to open, they have chosen to do so more quietly for the time being. “It’ll be a gradual reopening I would expect,” said McNally. The reopening of NagaWorld has been seen by some as being long overdue, given Phnom Penh’s record vaccination levels this year. “If you look over the last six months, the leadership in the Cambodian government has stepped up to the plate and has been very proactive and responsive to the serious problem at hand. They’ve undertaken a very aggressive vaccination program.” Around 79 percent of the country’s adult population has been vaccinated as of August, and in the capital city of Phnom Penh, more than 95 percent of adults have been vaccinated according to McNally. “Much of this has occurred over the last several months. In the initial phases of 2020, vaccinations were not available.” The company has not stood idly by these last six months, said McNally. “I’m proud to say that Naga has played a very instrumental and contributing role while this pandemic has been going on. Our Kind Heart Program, whether it was donations, food banks or our Naga farm, putting together food packages for people in the Ang Snoul district. We also donated surgical masks, hand sanitizers, and temperature equipment.” Dr. Chen Lip Keong, the chief executive of NagaCorp has personally contributed more than 15 million dollars to purchase and acquire vaccinations for the country. “When I talk about a larger picture, our commitment to the country, the growth and development that we’ve seen and also that we’re committed to nation building... You have to be a contributing corporate citizen during tough times.” However, AGB notes that at the same time, NagaCorp has had to reduce its head count in mid-2021 in order to cut costs amid the prolonged shutdown. McNally said as many as 1,200 staff had to be let go during the course of the pandemic and shutdown.
Asia Gaming Briefings | October 2021
“Obviously any time you go through a crisis situation where you’re closed for an unknown period of time... you have to do a very serious cost review. We obviously had to deal with staffing issues. In 2020 we were at around 8,200 [staff], we’ve now moved that down to around 7,000.” “Nobody likes to have to let people go. So we did it in what we thought was a rational way. We had a program of separation where the majority of the 1,2001,300 employees that were reduced separated from the company with some additional incentives to leave. Other people have been granted compensation over and above government guidelines,” he said. In regards to recovery, McNally says this will be a gradual process. “Before closure we were quite successful dealing with the local mass market and premium players. I think it will take a while before we see tourism levels come back.” McNally said the Cambodian government is eyeing for
